Tata Mutual Fund has launched a new scheme. It is called the Tata Quant Fund. The plan is based on Artificial Intelligence (AI) and Machine Learning (ML). This time the fund house has issued a communique. According to this, the scheme uses a variety of predictive models to create an investment portfolio. Shailesh Jain will be responsible for managing this fund. This new fund offer is open to investment. On January 17, it will close. It will require a minimum application unmount of Rs 5,000 to invest in it.
NFO is a new scheme for an asset management company. Through this, a mutual fund company raises money from investors to invest in instruments like shares, government bonds. The fund house pointed out that the predictive engines use 20-year market and macro-economic data to analyze relationships and patterns. These relations with the current market and macroeconomic data are then used for monthly engine estimates. The fund’s decision-making process is entirely machine-based. There is no interference with any person.
Shailesh Jain, fund manager, Tata Asset Management, said, “Tata Mutual Fund has developed machine-based strategies. It has been designed keeping long-term equity investors in mind. This framework is capable of analyzing a large amount of data. Technology can be used in its favor. The future of investment is in use of the quant. We think the Indian market is ready to step into the world of technology-based investment.” “Machines have a lot of potential to analyze a large amount of data,” said Prathit Bhobe, MD and CEO, Tata Asset Management. They can help make fair and fast decisions. In today’s world, computers are enough to solve problems. A lot of data is available. With an algorithm, we want to use this data.”
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